GSP system good opportunity for Armenian exporters - US ambassador

US Ambassador Richard Mills on Wednesday hailed the initiative to conduct a joint US-Armenian business forum in Yerevan, highlighting the advantages of the GSP system for many Armenian exporters.

Addressing the participants of the event, organized jointly by the Armenian-American Chamber of Commerce and the US Embassy in Yerevan, the ambassador noted that the regime offers essentially lower customs tariffs for specific categories of goods. Mr Mills said he knows that the GSP system now applies to 60% of the Armenian exports to the US.

But he stressed the importance of increasing further the advantages for Armenian businessmen.

Addressing the possible signing of the bilateral agreement ruling out double taxation, the ambassador noted that the Armenian Government was the first to raise the issue.

He said that they will consider the signing if they really see the need of an additional deal potentially promoting the mutual trade.

According to the ambassador, the Double Tax Agreement signed between the two countries’ government back in 1970, is absolutely satisfactory for continuing the bilateral trade relations. He said that they now expect the Armenian Government to present its own arguments justifying the necessity of a new deal.